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MCX GOLD: Tips & Update

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Have you traded MCX GOLD?
Click here: Will Gold survive above the 55000 level?

Free mcx gold chart calls

I had written clearly,”Currently, gold is showing a bullish sentiment, which may lead to the following targets: 54740 – 54900 – 55000+.”
Timeline: [13 December 2022]
  • 07:00 PM – GOLD reached all targets in a single candle and made a high of 55047.
If you have traded this setup, you could have made more than 900 points in just two trading sessions. (To become a subscriber, subscribe to our free newsletter services. Our service is free for all.)Continue reading

Is NSE POLYCAB Preparing For Impending Advance?

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free nse polycab chart calls

NSE POLYCAB has broken out a cup and handles pattern at the weekly timeframe chart. The handle has given 50% Fibonacci retracement of the cup.

The neckline at 2862 has provided resistance to the price until it broke out. Along with the relative strength index, the 20 and 50 moving averages are indicating bullish momentum.

If the price sustains the above swing high at 2862, traders can trade for the following targets: 3032 – 3185 – 3246. The trade will be invalid in case of spring or close below the neckline.

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Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.

MCX CRUDEOIL & GOLD – Big Pictures

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Bearish signals remain for crude oil price

free mcx crude oil daily chart xalls

Timeframe: Daily
After making a high of 9996, the price started forming a descending channel. The channel has been occurring for more than 39 weeks. 7735 was a crucial resistance level where the price tried to test for three attempts but failed to maintain bullish momentum.

The price has broken down the descending parallel channel and closed below the recent lower low to create a new low. Bearish momentum can lead price to the following targets: 5700 – 5600.

Trade will be invalid if the price sustains above the upper band of the descending parallel channel.

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Will Gold survive above the 55000 level?

Free mcx gold chart calls

Timeframe: Daily

MCX GOLD has broken out of the 10-week-old upper resistance band of the parallel channel and moving forward to the crucial resistance of 55000.

After breaking the swing high of 53663, the price faced resistance until demand pressure turned the level into support. Currently, gold is showing a bullish sentiment, which may lead to the following targets: 54740 – 54900 – 55000+.

Note: the resistance line is currently providing support after the breakdown, but closing into the channel will increase selling pressure.

We will update further information soon.

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Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.

Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.